132 Haynes St · Balfour, NC 28791

$269,000

3 bd · 2.0 ba · 1,736 sqft · SingleFamily public records · 15 Days on market

Built 1979 0.35 ac lot Est $448k · 40% under

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.2/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

GREAT POTENTIAL in this large brick ranch in Hendersonville, NC! 3BR/2BA, over 1700 sq ft, hdwd floors, large living room w/ FP, large kitchen/dining area & pantry, laundry closet, plus additional huge family room w/ rear entrance! Covered front porch. Double detached garage w/ small half bath (roof issues). Septic tank currently inoperable. Quote to repair in attachments. Property sold AS IS/WHERE IS. * Unknown if driveway is shared * * All information taken from public tax records and must be verified by buyer/agent prior to closing. Listed below tax value!

Key facts

• Covered front porch
• Huge family room
• Large living room

Tags

• LARGE BRICK RANCH
• LARGE LIVING ROOM
• LARGE KITCHEN DINING AREA
• COVERED FRONT PORCH
• HUGE FAMILY ROOM
• DOUBLE DETACHED GARAGE

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Detached 2-car garage with driveway (garage ~901 sq ft)
• Utilities: City water; Septic system installed
• Home design: Single-family residence, site-built; One level; Zoned R-15
• Construction: Brick exterior; Crawl space foundation
• Exterior features: Covered front porch; Lot is level to sloped; Asphalt-paved public road frontage

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating: Other (see remarks); Cooling: Other (see remarks)
• Interior features: 7 total rooms; Living room fireplace
• Laundry & utility: Main-level laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (8.4% below list).
• Recommended offer: $246k (8.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#338 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Henderson County Schools (suburban): math 48% / reading 52% proficiency, ranked #64 of 178 in NC (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Clear Creek Elementary (math 39% / reading 44%, grade F, #673 of 1,410 statewide, top 48%, 484 students, 70% FRL); Hendersonville High (math 57% / reading 77%, grade B, #142 of 535 statewide, top 28%, 784 students, 43% FRL).
• Market conditions: 149 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,534 units permitted in Henderson County in 2024 (558 in 5+ unit buildings).
• This rent runs 38% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Henderson County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($265k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $186k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $246,342 (8.4% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $447,888
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 Comet Dr	0.32mi	3/2.0	1,606 (-8%)	6mo	$375,000	$233	68
239 Stonebrook Dr	0.73mi	3/2.0	1,754 (+1%)	3mo	$452,500	$258	62
2375 Rosemont Ct	0.73mi	3/2.0	1,662 (-4%)	6mo	$495,000	$298	54
308 Darnell Dr	0.57mi	3/2.0	1,792 (+3%)	18mo	$355,000	$198	53
2205 N Stoney View Ct	0.19mi	3/2.0	1,534 (-12%)	24mo	$430,000	$280	52
215 Browning Ave	0.69mi	2/2.0 (-1)	1,612 (-7%)	0mo	$328,000	$203	50
2025 S Stoney View Ct	0.34mi	3/2.0	1,515 (-13%)	17mo	$428,000	$283	49
211 Lyndon Ln	0.33mi	3/2.0	1,551 (-11%)	23mo	$370,000	$239	48
82 Lillycrop Ln	0.74mi	3/2.0	1,596 (-8%)	10mo	$545,000	$341	44
1727 Meadowbrook Ter	0.74mi	3/2.0	1,916 (+10%)	10mo	$333,000	$174	40
1721 Clairmont Dr	0.70mi	3/2.0	1,948 (+12%)	9mo	$550,000	$282	39
232 Stone Brook Dr	0.69mi	3/2.0	1,515 (-13%)	9mo	$387,500	$256	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.68×
• Total profit: $-24,299
• Equity at exit: $40,109

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $3,413
• Equity at exit: $23,258

Cash invested: $75,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 28791

• Active inventory: 149
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,463 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$119 /mo · $1,428/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $304

Break-even live

Break-even rent $2,078

Max offer price $269,000

Occupancy floor 83%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Cornerstone Way Hendersonville, NC	2.0	2.0	1200	$1,795	$1.50	21d	1	0.25mi
1830 Lower Ridgewood Blvd Unit 1828 Hendersonville, NC	3.0	2.5	2000	$2,200	$1.10	23d	1	0.56mi
1761 Haywood Manor Rd Hendersonville, NC	2.0	2.0	1080	$1,600	$1.48	13d	1	0.94mi
73 Eastbury Dr Hendersonville, NC	2.0	2.0	1109	$1,775	$1.60	23d	5	1.02mi
130 Creekview Rd Hendersonville, NC	3.0	2.5	1774	$2,495	$1.41	23d	1	1.29mi
146 Creekview Rd Unit 1 Hendersonville, NC	3.0	2.5	1700	$2,595	$1.53	23d	1	1.30mi
146 Creekview Rd Hendersonville, NC	3.0	3.0	1700	$2,595	$1.53	23d	1	1.30mi
21 Cedar Hill Rd Hendersonville, NC	3.0	2.5	1674	$2,300	$1.37	21d	1	1.32mi

Listing history 12 events

1. 2026-06-18
   days on market $269,000 Active 15 DOM
2. 2026-06-17
   days on market $269,000 Active 14 DOM
3. 2026-06-16
   days on market $269,000 Active 13 DOM
4. 2026-06-15
   days on market $269,000 Active 12 DOM
5. 2026-06-14
   days on market $269,000 Active 10 DOM
6. 2026-06-13
   days on market $269,000 Active 9 DOM
7. 2026-06-10
   days on market $269,000 Active 7 DOM
8. 2026-06-09
   days on market $269,000 Active 6 DOM
9. 2026-06-08
   days on market $269,000 Active 5 DOM
10. 2026-06-07
    days on market $269,000 Active 4 DOM
11. 2026-06-05
    remarks 570-char remark
12. 2026-06-05
    listed $269,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $1,428 · $119/mo
• Projected year-2 tax: $2,206 · $184/mo
• Expected delta: +$778/yr (+$65/mo · 54.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,561
• − Mortgage interest: −$15,068
• − Property taxes: −$1,428
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,365
• − Management: −$2,365
• − Depreciation: −$7,825
• Taxable loss: −$835
• Est. tax savings @ 24.0%: +$200
• After-tax cash flow: $3,853/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Henderson County Schools
• NCES district ID: 3702100
• Math proficiency: 48% ▼ -2.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $47,101
• Composite: 42.5/100
• National rank: #3206
• State rank: #64 of 178 in NC

Livability — Balfour

• Score: 64/100
• State rank: #338
• US rank: #13691

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment B Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Balfour, NC
• County: Henderson County · 78,587 people
• Metro: Asheville, NC
• Population (ZIP): 15,108
• Household income: $78,827
• Rent vs Own: 19.5% rent · 80.5% own
• Severe rent burden: 253.0

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 124,075 people
• By 2030: 129,690 · +4.5%
• By 2040: 139,898 · +12.8%
• By 2050: 148,298 · +19.5%
• By 2075: 163,980 · +32.2%
• By 2100: 166,962 · +34.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 10% Two or more races 6% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 4% Slovak 3% Serbian 3%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 92% English-only · Spanish 5% Other Asian/Pacific 1% German/W. Germanic 1%

Political lean MEDSL · Henderson

• 2024 margin: R (+14.6) · D 42.1% · R 56.7% · Other 1.1%
• 2008→2024 swing: +6.5pp toward D · 2008: -21.0pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+18.8 2016: R+27.9 2012: R+27.6 2008: R+21.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -160.98%
• Current HPI: 207.4921
• Rent YoY: —
• Metro: Asheville, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+96.4% since first listed

9 events — show timeline

• 2026-06-03 Listed $269,000 CANOPYMLS as Distributed by MLS Grid
• 2026-05-01 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-04-13 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-02-13 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-01-08 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-11-11 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2025-10-08 Listed $299,000 CANOPYMLS as Distributed by MLS Grid
• 2006-06-13 Sold (Public Records) $186,000 Public Records
• 2003-09-15 Sold (Public Records) $137,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,428 · +0.0% YoY. Source: county tax records.